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·
Nic
Peet introduced the item, highlighting the land categorisation and silt and
debris work that was carried out as part of the recovery from Cyclone
Gabrielle, over and above business as usual.
· Chris Comber advised that Council
has received a qualified audit in relation to the opening balance of the infrastructure
(flood protection) assets which were not able to be valued last financial
year due to Cyclone Gabrielle and were revalued throughout 2024. Emphasis of
matter item relates to the uncertainty of quantifying GHG emissions, and two
outstanding matters relating to the revaluation of HBRIC and recognizing NEMA
claims but these won’t change the Audit Report.
· Susie Young highlighted that there are
still large amounts of silt task force funding showing in the accounts,
insurance monies still outstanding will come in next year, and that
infrastructure assets have nearly doubled in value.
· The reason for the budgeted $20M
deficit was to recognise assumptions in relation to income and expenditure
for cyclone recovery, including insurance reimbursements.
· In relation to the Emergency
Management activity under spend, it was explained that when reconciling
budgets there were costs initially budgeted immediately following Cyclone
Gabrielle that were transferred to within the business as usual activities.
·
The
delivery of $96M of infrastructure assets work over and above the
‘usual’ work was noted. Further it was noted that the new work
through the IPMO is having to start from scratch including design, while the
rapid rebuild was all done on existing, physical stopbanks.
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